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Like Steemit, this cannot incentivize production long term unless it has more efficient means of monetization, which it doesn’t. Steem subsidizes content throug

by wycs 8y ago

Like Steemit, this cannot incentivize production long term unless it has more efficient means of monetization, which it doesn’t. Steem subsidizes content through inflation of a token during a speculative mania. To put it mildly, this is not sustainable. Though the founders did astonishingly well on their exit. Putting a newspaper on a blockchain, to the extent the idea is even coherent, does not exempt it from the economics that makes journalism unremunerative. This is not to say that we cannot use crypto currencies to perform activities that were traditionally performed by journalists. However, this will look more like anonymous information bounty markets or prediction markets. But even prediction markets need someone to subsidize them, willfully taking a loss to provide liquidity. I think there is a good case to be made for using demurrage to do this. But for this to work there has to be actual long term economic value on the blockchain, which most lack.

okay_nick 8y ago
Hello! I'm an engineer at Civil. While our TCR will not solve the economics of journalism on its own, we believe it will help provide transparency into the inner workings of newsrooms and increase media literacy in ways that could encourage more people to fund journalism organizations. Furthermore, we think it can vastly improve discoverability especially for smaller (but still ethical and reliable) news organizations. From there, it's about giving newsrooms tools to run and monetize their business how they want. For some this might look like traditional newspaper subscriptions, for others we might see more experimental monetization schemes that are only feasible on the blockchain (such as bounties). -- Nick Reynolds p.s. - Have you looked into TCRs generally? There's a fair amount of overlap with prediction markets, you might be interested in learning more about the incentive system.

by wycs 8y ago

okay_nick 8y ago

Hello! I'm an engineer at Civil. While our TCR will not solve the economics of journalism on its own, we believe it will help provide transparency into the inner workings of newsrooms and increase media literacy in ways that could encourage more people to fund journalism organizations. Furthermore, we think it can vastly improve discoverability especially for smaller (but still ethical and reliable) news organizations. From there, it's about giving newsrooms tools to run and monetize their business how they want. For some this might look like traditional newspaper subscriptions, for others we might see more experimental monetization schemes that are only feasible on the blockchain (such as bounties). -- Nick Reynolds p.s. - Have you looked into TCRs generally? There's a fair amount of overlap with prediction markets, you might be interested in learning more about the incentive system.